Money’s No Object with Dylan Howell- Podcast

As investors, certain concepts just come with territory. One of which that is always touted as an investing must is diversification. Diversifying your portfolio is something that everyone says you should do, but there are mixed reviews when you hear the opinions of successful investors like Mark Cuban & Warren Buffett. This leads me to ask whether or not diversification is dumb and whether or not we need to be employing it in our investing lives. Today, we will discuss: 1. What diversification is 2. How most people don't understand diversification 3. What Mark Cuban & Warren Buffett say about diversification 4. Pros & cons of diversification   B...

Don't we all want to have some cash in our bank accounts? Don't we all want money in our pockets? SHOULD WE? I want to lay out the arguments for you as to why "Cash is Trash" and "Cash Is King" are huge sayings in the personal finance world. It seems strange that anyone would ever suggest that cash is trash, given how we must purchase everything we have with cash. That said, I do think there are specific situations where cash can fall into either of these categories. Today, we will discuss: 1. How to think about cash in your...

Managing your finances can be daunting. This can be especially true when you have spend years doing things that may hurt you financially, just to realize as much and attempt to turn the ship around later. I want to encourage you, though, that starting late in getting your finances in order is far preferred to no getting them in order at all. Whether financial freedom simply means having no debt with some money in the bank or a $5 million nest egg, know that starting NOW is going to be the best way to reach the financial goals that you have...

I don't want this show to be all about rules and legalism when it comes to your money. Of course I believe that there is an efficient path to financial freedom that we can all try to follow, but I do think that there are times when deviating from that path is appropriate. Today, I look to give you the reasons that you can break the "rules". These are all things that are not suggested in our financial lives on a normal basis, but when it comes to emergent situations, you can do some of these more extreme financial actions...

I talk a lot about investing in stocks, but I do not spend a lot of time discussing specific stock investing strategies/avenues that can be used for different needs of the investor. One type of stock investing that you can partake in is high-yield stock investing. This has everything to do with dividends and the income that your investments can produce for you over time. High-yield investors have a special set of considerations that they must make for their investment choices, but when it all comes down to it, we are all balancing a risk-return proposition in our portfolio...

Paying off debt is definitely the most difficult part of the Financial Action Plan that I have made for you all. When doing so, you need to have a method that is effective and will allow you to be motivated about and confident in your ability to pay off all your debt in a timely fashion. In order to do this, you should employ the debt snowball method: paying off debts from lowest amount to highest amount. You may think that interest rate ranking, or the debt avalanche method, is the best way to go about debt repayment, but it...

Without question, Americans have a debt problem, but that debt problem stems from a much bigger problem: a spending problem. We are either apathetic to the amount of money that we do spend, or we just don't care because we want all the things that money can buy us. This can keep us struggling to get our financial footing over and over again, and it can keep us either in debt or constantly reaching for debt when things get rough financially. Today, we will discuss: 1. How we get into debt 2. Ways we overspend 3. Why getting our spending in check is...

There are certain times in your financial life that you seem to have turned the corner into a new ballgame. One of those times, which is maybe the most significant, is when you finally get out of all consumer debt. This is a time to be celebrated, but it leaves you with many options as to what you are going to do with your money now. Getting out of the habit of having payments and living paycheck-to-paycheck is huge, and it can turn your financial life around in a hurry. Today, we will discuss: 1. The importance of being debt-free 2. What...

The last way that I want you to feel, when it comes to money, is hopeless. Sadly, this is how many young people feel. They feel as if they are drowning in the debt that they have taken on. The good news is that you can do something to make your financial life better, but you have to make the choice to change. Getting out of debt is hard, but once you do, you will feel freedom that you have never felt financially. Don't drown in debt... SWIM!   Begin your path to financial freedom today: https://www.youtube.com/channel/U...

I believe in using the stock market to grow my wealth. It has long been a proven way to make returns. The problem that can arise with many taking this same view is that they take all of their money and put it in the stock market to grow. This is especially the case when rates of return on stable assets/accounts are so low as they are today. We need liquid cash to protect our financial lives, but this NEVER means that investing should be foregone. Today, we will discuss: 1. The problem with investing all your money 2. The need...

Whether you know a lot about investing or not, it is likely that you have a bunch of pre-conceived notions about investing. Some of these ideas are right, but you would be surprised how many of them miss the mark completely. I want us to identify places in our ideology that we have missed the boat and correct our expectations. I focus a large part of today's episode on the fact that the market doesn't care what you think you deserve, and the market is going to do what it does, regardless of your wishes. This is a hard...

Would you buy something off of the shelves of a store if you didn't know what it was? OF COURSE NOT! Then why do people find themselves investing their money in things that they don't know what they are? Doesn't make sense. This is one of the many reasons that I believe it to be vitally important for you and I to invest in what we understand. Not doing so will lead to buyers remorse, just like with any other purchase, and we will likely never make the returns that we could have otherwise. Today we will discuss: 1. Why...

If you are interested in seeing wealth inequality at its greatest, look no further than the stock market. Stocks are, far and away, held more by the top 1% of wealthy individuals than the rest of us. This angers some people and makes others call for taxation of wealth, but it is something that just continues to create a gap between the top and the bottom when it comes to U.S. household wealth. It is hard to say what we should do about it, other than take our spot in the ownership of stocks right alongside the wealthiest individuals.   Begin y...

Investing is not all rainbows and sunshine. There are bad days, and occasionally, there are some REALLY bad days. When bad days do occur, you need to know how to act. It is easy to be an investor when everything that you own keeps going up in value, but what happens when your portfolio gets punched in the mouth? Dealing properly with a market sell-off is one of the most valuable things you need to learn to do in your investing life. Proper action (or lack thereof) can save you and MAKE YOU lots of money. Today, we will discuss: 1...

I don't want you to think that I am some hypocrite when it comes to what I teach you about investing. For the vast majority of investors, selling stocks right now would be a TERRIBLE idea, but there are exceptions to every rule and there are definitely situations where selling stocks may be appropriate for some of you all right now. I want you to know what those situations are, but I also want to be clear that selling stocks in a down market is a double whammy that I don't want us to have to endure.   Begin your path t...

Something that would be financially helpful to us all would be to know how to consistently live on less than we make. Truthfully, though, the people who are able to do that are those who PLAN to do it. You don't accidentally save money. You save money because you planned to save money. This is why it is so important to teach our kids that a budget is the lifeblood of successful money management. We must tell our money where to go, or we will wonder where it went. Today, we will discuss:

1. How kids should be...

One of the key tenants of a healthy financial life is budgeting your money each and every month, uniquely. The problem is that many people find this arduous and just don't do this simplest of tasks. Some people may not want to look their mistakes in the face, but failing to plan is planning to fail, so we MUST budget. I want to help you maximize your budget with a few financial hacks that will leave you with more money in your pocket and less debt that is dragging you down month after month.   Begin your path to financial freedom t...

One thing that I cannot stand is people making excuses for not doing things that you should be doing. Everyone wants to find some reason or loophole as to why they are special and do not have to abide by the same rules as everyone else. I constantly hear this sentiment that budgeting isn't important, and that could not be more false. Planning your financial life out and then tracking your progress is vital to being financially free over the long-term, regardless of who you are or where you are starting financially.   Begin your path to financial freedom today: https://w...

When people plan for retirement, they typically think of their expenses as a static number and their income as fixed. Incomes may be fixed, but expenses NEVER say the same when it comes to retirement. There is a big factor called inflation that increases the costs of goods and services over time. If inflation runs rampant, and you are on a fixed income, you have to make sure that you have enough margin in your budget to keep your income above your expenses. If you want to keep your retirement life comfortable, a huge part is managing/tracking your expenses...

The stock market is bumpy, to say the least, right now. Bumpy markets mean that you NEED a plan, and you NEED to keep buying to average your cost down in your investments. Bear markets and/or corrections leave us all feeling uneasy, but that doesn't mean that we should change our game plan. They are simply part of the investment landscape that we have to navigate in real-time, and I am here to help you navigate through all the negativity about markets out there.   Begin your path to financial freedom today: https://www.youtube.com/channel/UCjyCApAbHBN0Jtw5bAehbRg?s...

(Episode 465 Re-Run)   Sometimes it is hard to understand why certain things are occurring economically, and it is especially difficult to know why your mortgage rates is what it is, your savings account is paying you so little, and your bond investments decreased in value. This can all be attributed, in large part, to increases in the federal funds rate by the Federal Reserve. This increase of the base interest rate has a real impact on your finances and your life, and I use this episode to explain those impacts and why you may want to put some attention on the F...

We commonly hear the long-term average returns of the stock market. What we don't think about, though, is that MOST years DO NOT follow close to the averages. This doesn't just apply to the stock market returns but also to the bond market, inflation, and stock valuations. These short-term fluctuations in asset values remind us that investing in the short-term is NOT the most tried and true way to make money. Get in the market and stay in for the LONG-TERM! Today, we will discuss: 1. Why markets are not normal 2. Stock market valuations and returns over time 3. Inflation and bond...

When it comes to the money that you pull from your nest egg in retirement, the question is always when and how much you should be taking off each week/month/year. Though I have talked about this before, one factor that needs to be taken into account when it comes to retirement withdrawal rates is the topic of inflation. Inflation is going to eat away at the value of your money over time, so in order to keep buying the same goods and services over the long-term, you must be growing your money at a rate that keeps up...

Aren't you tired of turning on the news or financial channels and hearing about inflation every day? Some of you may be hearing about it, but you may have very little understanding about what is being said about inflation and the economy. I want to help you clear that up with all the basics about what inflation is, how it impacts our lives, how it is measured, and what causes it. Hopefully, this fundamental episode can lead to your better understanding of financial and economic topics.   Begin your path to financial freedom today: https://www.youtube.com/channel/UCjyCApAbHBN0Jtw5b...

(Episode 67 Rerun) Ladies & gentlemen, it is election day, and what is more fitting than to talk about stock market crashes on election day? Many people are worried that the outcome of the election will lead to a lot of hurt in the stock market, and we have seen the market flounder leading into this week. It is probably a good exercise to learn more about stock market crashes, what they are, what causes them, and what they have looked like in the past. We will discuss:   1. What a stock market crash is 2. The history of market crashes 3. Why you should n...

When too many Americans think about investing it is synonymous with gambling. Investing and gambling are DIFFERENT! In this episode, I spend time talking about the sparse chance we have of winning the lottery and how that compares to the chance of making money when investing. I also prescribe when I think it. is appropriate to do any gambling at all, because most people who do do NOT have the financial foundation in place to be doing so.   Begin your path to financial freedom today: https://www.youtube.com/channel/UCjyCApAbHBN0Jtw5bAehbRg?sub_confirmation=1   Don’t forget to like, subs...

Young adults failing to leave the nest is a pervasive problem in our society. Don't get me wrong, there is nothing wrong with supporting your adult children, financially or otherwise, but such support can often come at a cost to the progress and development of your adult children. As selfish as it may sound, putting your adult children (that are able) before your own financial freedom is a problem that will keep you from meeting your financial goals over time.   Begin your path to financial freedom today: https://www.youtube.com/channel/UCjyCApAbHBN0Jtw5bAehbRg?sub_confirmation=1   Don’t forget to l...

Even though anecdotes can be useful in making your case about something, I like to stick with the data. This episode dives into the survey data about the retirement confidence of Americans. I believe that there is a lot that we can learn from this information and we can be better equipped to prioritize the correct things in our financial lives. I don't know if Americans truly have much to be confident about when it comes to their retirement expectations, but this isn't about how I feel, it's about how the majority feels. Let's find out!   Begin your path to f...

There are few people more influential in the world of finance than Warren Buffett & Charlie Munger. I can't wait for this time every year when they have the Berkshire Hathaway annual shareholder meeting and they get to answer questions from their shareholders. The questions they get can be very technical or very informal. Either way, these questions have a way of setting these two off on rants that are full of metaphors and wisdom that is nothing less than fun to listen to.   Begin your path to financial freedom today: https://www.youtube.com/channel/UCjyCApAbHBN0Jtw5bAehbRg?sub_confirmation=1   Do...

No one likes when the stock market is going down, and I am no different. That said, in a market correction like we currently find ourselves, it is important to keep a cool head and invest with your logic, not your feelings. Today is all about the history of corrections in the U.S. stock market, when they have happened before and what we should do about the one that we are currently fighting through.   Begin your path to financial freedom today: https://www.youtube.com/channel/UCjyCApAbHBN0Jtw5bAehbRg?sub_confirmation=1   Don’t forget to like, subscribe, and leave comm...

For multiple generations now, retirees have looked forward to the time when they could take their social security payments and retire. Social security is not only underwhelming in amount, but it is also lackluster in its rate of return on your money and ability to pass the money on to your heirs. Even though we may expect social security payments, relying on them for retirement income is irresponsible and not the most prudent way to plan for retirement and beyond. Today, we will discuss: 1. Where social security came from 2. How your social security benefit is determined 3. Whether or not social...

You all know that I love to talk about investing, and one of the primary parts of my investment strategy is buying index funds. Many people do this for the efficiency and simplicity, but is there actually a better way to index? I don't know about better, but there is another that high-net-worth individuals often engage in, known as direct investing. That is the topic of today's episode, and maybe it can benefit your long-term investing life.   Begin your path to financial freedom today: https://www.youtube.com/channel/UCjyCApAbHBN0Jtw5bAehbRg?sub_confirmation=1   Don’t forget to like, subscribe, and...

It is crazy to me how rare it is for people to have estate planning documents in place, as simple as the last will and testament. Estate planning documents play a vital role in protecting your finances over the long-term. Creating a unique estate plan is something that EVERY adult should do, and we should not be waiting until we are old or wealthy to do it. None of us want our friends and family to fight over what we leave behind, so having binding legal documents that direct them is key to leaving the legacy you always wanted. We...

I think it is fitting for us to rehash the reason that I am here in the first place and the things that I am trying to get you to do to WIN in your financial life. The financial action plan is nothing fancy, new, or ridiculously wild, but it WILL help you win with money over the long-term. I want every one of you to have structure and organization in your financial life such that you can WIN with your money. Today, we will discuss the 9 parts of the financial action plan and why they are worth following.   Begin y...

Stocks are a great tool by which we can build wealth. This said, there are several different categories that stocks can be split into, all of which we should know. These different types of stocks can help us to diversify our portfolios properly and take away any unnecessary risks that we may be taking. This said, these categories can also be great ways to break into new return/risk levels without having to drastically change your portfolio allocation.   Begin your path to financial freedom today: https://www.youtube.com/channel/UCjyCApAbHBN0Jtw5bAehbRg?sub_confirmation=1   Don’t forget to like, subs...

In a world where the differences between men and women have been minimized, it is interesting to see a disparity arise in the male-dominated field of finance. Women are, on average, outperforming men when it comes to their investment performance. There are few explanations that hold water, other than the behavioral differences between men and women. These differences have created a 0.4% annualized alpha for women, which doesn't sound like much, but it can compound to hundreds of thousands of dollars over time, so I think it is worth noting and applauding.   Begin your path to financial freedom today: https://www.y...

I don't write-off ANY investments, but I want to make clear to everyone that ALL investments have their upsides and downsides. I felt compelled, today, to bring to light specific situations where target date funds are not optimal for investment. These funds typically make things as simple as possible for investors that only want to take minimal responsibility, but their simplicity is also to the demise of investors' ability to take the appropriate amount of risk for the commensurate amount of return.   Begin your path to financial freedom today: https://www.youtube.com/channel/UCjyCApAbHBN0Jtw5bAehbRg?sub_confirmation=1   Don’t fo...

One of the biggest questions that people ask about their investing life is whether or not they are investing enough. Enough is a strange concept because it differs for us all. I talk about investing 15% of your income, but that is simply a catch-all for what works for most people. There are some people needing to invest more than that, and some who can get away with investing far less. That's what I am talking about today, though, are we investing enough, and what is truly enough?   Begin your path to financial freedom today: https://www.youtube.com/channel/UCjyCApAbHBN0J...

Often, we say that schools should be teaching personal finance and useful real world skills. The problem with this is that we fail to take into account one of the biggest catalysts when it comes to personal finance education: parents. Parents tend to shape much of what children become and specifically how they act when it comes to big topics like money. We have to learn not only how to manage money but how to teach our children about money.   Begin your path to financial freedom today: https://www.youtube.com/channel/UCjyCApAbHBN0Jtw5bAehbRg?sub_confirmation=1   Don’t forget to l...

I can't talk about the last week in financial markets without talking about Elon Musk's bid for Twitter and what is going on on that front. Other than that obvious topic, inflation came in hot again on all fronts, so addressing those high values is important for future stock market actions. I want to provide you all with the confidence to invest long-term while having the knowledge to know what all goes into the short-term fluctuations of the market.   Begin your path to financial freedom today: https://www.youtube.com/channel/UCjyCApAbHBN0Jtw5bAehbRg?sub_confirmation=1   Don’t forget to like...